New Mexico Business Owners Helping Business Owners

If you’re overwhelmed with searching for resources to help your business at this time, here’s a community curated resource to help you focus on your organization. It’s laid out in a way that simplifies the processes as best as possible.

Community Curated Resources for Business Owners

DISCLAIMER: Below are some resources compiled for the COVID-19 economic injury. Please know all information was summarized by several community sources. We encourage you to go directly to the agency for the most accurate information.

Important CARES information analyzed by Atkinson CPA: Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. In addition to the summary of IRS actions and...

Dear New Mexico Businesses, As most of you know, the federal stimulus guidelines were rolled out Friday. There is $350 billion allocated to small businesses. However, the SBA told us yesterday during a webinar that you have until June 30, 2020 to access this money but...

Thanks to our friends at Atkinson & Co. here's a giant checklist to help you find out where to go and what paperwork to fill out: As information continues to flow in, and as professionals everywhere are being bombarded with questions about the various programs...

Help Us Curate What Business Owners Need to Know

COVID - tax & HR Info

With the quickly changing environment with tax relief, paid sick leave and payroll adjustments from the government, here’s some resources and updates to read up on.

NM - Tax & Rev: Income Tax Extensions

Phew! From New Mexico Taxation and Revenue –

Personal Income Tax – New Mexicans now have an extra 90 days to file and pay their 2019 personal income taxes in recognition of the economic hardships many are facing as a result of the COVID-19 pandemic. Taxpayers will have until July 15 to file and pay any taxes due.

Corporate Income Tax – The deadline for 2019 corporate income taxes also will be extended until July 15. In addition, the state is extending deadlines for employers to remit withholding taxes.

NM - Unemployment: The Employee Unemployment Guide

If you’ve had the unfortunate situation of laying off or reducing hours for employees, give this one-sheet to your employees as a guide on filing for unemployment.

Employees have noted that the website is a faster way to file, rather than calls at the moment.

Fed: Emergency Paid Sick Leave

Sick Leave: full-time employees are entitled to two weeks (80 hours) of fully paid time off (up to $511 per day) to self-quarantine, seek a diagnosis or preventive care, or receive treatment for COVID-19

Family Leave: Eligible full-time employees and part-time employees are entitled to 12 weeks of job-protected leave to take care for their children in the event of a school closure or their child care provider is unavailable due to COVID-19.

Eligibility:

Employees at companies with fewer than 500 employees

State and local government employees and certain federal government employees

Employees who work under a multiemployer collective agreement and whose employers pay into a multiemployer plan

UPDATED: The SBA Disaster Loan Application

NM Economic Development Loan Guarantee

“The New Mexico Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19.” – NMEDD

NM - LEDA Funding

Company must be a qualified entity (manufacturer, non-retail service business with more than 50% of revenue generated out of state, or a retail business in a community of less than 15,000 in population)

All loans will be required to provide security equal to the amount of the loan

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Curated by the

Business Community

It’s impossible for us to keep up with all the resources for business in New Mexico. That’s why we’re asking you to help us curate what we should consider a business resource. Submit a link or document now.